Debt For Life
There is a bigger drama to the rise student loans, than just the percentage hike in rates. This drama that will change the way America is and will be in the coming future, and all this will be thanks to student loans. No, I’m not being melodramatic. Just ask any student about how they plan to repay their loans and what they plan to do once they’ve repaid. All you will get are confused stares. Because they don’t know when they’ll finish paying off their student loans — probably by the time they are in their mid-50s.
And how will they live their lives till then? They will have to kill all their dreams and search for that really high paying job. And the students who cannot find themselves good jobs, will have to work two or three jobs to make ends meet after they’ve paid their loan installment. And what about a home, family, children? You must be joking? Most collegians will not be able to begin thinking about buying a home or even about marriage till they are into their mid to late 30s. And then even if they want to have children, they will be forced to restrict themselves to one or none at all because of the rising cost of education.
And the worst part, society loses a great deal. Vital, but low-paying professions are being given the boot by students who cannot afford to indulge in them. What we lose out on are potential social workers, pro bono lawyers, journalists, environmentalists, teachers, artists, secondary medical professionals and community workers! This is too big a loss to even begin comprehending. I hope our lawmakers are listening.
If you enjoyed this article, please bookmark it at del.icio.us »
September 14th, 2006 at 1:53 pm
Nail on the head, baby. People need to stay away from student loans like there’s no tomorrow. The less debt they start out with, the less they have to pay off. There are plenty of chances for scholarships, part-time work or cheaper schools. But student loans are like cement shoes. Stay away, baby.